American Eagle outlook strong, shares jump

American Eagle Outfitters Inc (AEO.N) posted sharply higher quarterly profit on improving sales and fewer price markdowns, and the teen clothing retailer forecast first-quarter profit that could top Wall Street estimates, sending its shares up 8 percent.

The Pittsburgh-based company said gross profit margins rose to 39.9 percent in the fourth quarter, up 5.5 percentage points from a year earlier, helped by fewer discounts during the key holiday shopping season. It said it expects operating margins to improve and reach the "mid-teen" level by 2011.

Chief Executive Jim O'Donnell said in a statement on Wednesday that the company would continue to focus on its core American Eagle brands in 2010 in a bid to recapture market share, a decision met with cheers on Wall Street.

Read Full Article from Reuters

- Posted: 2010-03-10 10:45:40

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